Consider the framework of the previous problem Before you take a loan you compare two banks Bank A offers a 15 year mortgage loan of $50,000 at the nominal rate of 8 5 , with monthly compounding , with the APR of 9 00 Bank B offers a 15 year mortgage loan of $50,000 at the nominal rate of 8 8 , with monthly compounding, with the APR of 9 2 Which bank is charging you more in fees

Question: Consider the framework of the previous problem. Before you take a loan you compare two banks: Bank A offers a 15-year mortgage loan of $50,000

Consider the framework of the previous problem. Before you take a loan you compare two banks: Bank A offers a 15-year mortgage loan of $50,000 at the nominal rate of 8.5%, with monthly , with the APR of 9.00%. Bank B offers a 15-year mortgage loan of $50,000 at the nominal rate of 8.8%, with monthly with the APR of 9.2%. Which bank is charging you more in fees?

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